Stangl Inc. has provided the following data for the month of September. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month. Work In ProcessFinished GoodsCost of Goods SoldTotalDirect materials$1,480 $7,410 $14,430 $23,320 Direct labor 5,280 17,670 34,410 57,360 Manufacturing overhead applied 3,770 8,700 16,530 29,000 Total$10,530 $33,780 $65,370 $109,680 Manufacturing overhead for the month was underapplied by $3,000. The company allocates any underapplied or overapplied overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those
accounts. Required:Determine the cost of work in process, finished goods, and cost of goods sold AFTER allocation of the underapplied or overapplied overhead for the period.
What will be an ideal response?
| ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | ? | |
| Work In Process | Finished Goods | Cost of Goods Sold | Total | |||||||||
| Total cost before allocation of underapplied overhead | $ | 10,530 | $ | 33,780 | $ | 65,370 | $ | 109,680 | ||||
| Allocation percentage based on overhead applied during the month | 13 | % | 30 | % | 57 | % | 100 | % | ||||
| Allocation of underapplied overhead | $ | 390 | $ | 900 | 1,710 | $ | 3,000 | |||||
| Total cost after allocation of underapplied overhead | $ | 10,920 | $ | 34,680 | $ | 67,080 | $ | 112,680 | ||||
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